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September 19, 2008
ArcelorMittal S.Africa unit shares soar on bid talk
Shares in ArcelorMittal SA Ltd, the South African unit of the world's number one steel maker, rose 24 percent on Friday after the Financial Times's Alphaville website said that its parent would take control of it in a $5bn deal.
ArcelorMittal SA Ltd's stock rose to a high of 190 rand but pared gains to close 14.67 percent up at 177 rand, valuing the company at 80 billion rand.
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Posted by StaffWriter at September 19, 2008 7:35 AM